Swiggy Q3 Results: Net loss widens to ₹1,065 crore, revenue climbs 54%

Swiggy Q3 Results: On-demand convenience platform Swiggy on Thursday, January 29, reported widening of consolidated net loss to ₹1,065 crore in the December quarter of the financial year 2025-26, according to an exchange filing.

The company had reported a net loss of ₹799 crore in the year-ago period. In Q2 FY26, the net loss stood at ₹1,092 crore.

The company's revenue from operations increased 53.96% to ₹6,148 crore in the three-month period ended December 2025, compared to ₹3,993 crore in the same period of the previous fiscal year.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) for the quarter under review was at a loss of ₹782 crore as against a loss of ₹725 crore in Q3 FY25. The EBITDA margin was at 12.72% vs 18.16%.

Swiggy Q3 Results: Segment-wise revenue from operations

Swiggy’s food delivery business gross order value (GOV) grew 20.5% year-on-year (YoY) to ₹8,959 crore. Adjusted EBITDA rose 1.5 times YoY to ₹272 crore.

Instamart GOV expanded by 103% YoY, reaching ₹7,938 crore. 34 dark stores were added to take the overall network to 1,136 dark stores, covering 4.8 mn sq ft across 131 cities. Adjusted EBITDA loss stood at ₹908 crore.

Sriharsha Majety, MD and Group CEO, Swiggy, said, "Swiggy continues to accelerate user growth and gross order value in food delivery, defying broader scepticism around a sector slowdown while significantly improving our operating margins. In quick commerce, where we believe we are only a quarter of the way through the opportunity, we are deepening wallet penetration and expanding differentiated assortment across categories to strengthen engagement and order value."

On GOV growth slowing in Q3 respite being a festive quarter, the company said, "The Quick-commerce business, like all other channels of Retail, has marked seasonality; and hence needs to be viewed on a YoY basis. As competition is high (and some of it is irrational), our growth at the bottom of the AOV-pyramid has been slower (as explained in the previous question). Despite this, Instamart continued to grow GOV at over a 100% YoY for the 4th consecutive quarter. Importantly, NOV growth at ~76% YoY was the highest in 7 quarters."